PHOENIX, ARIZONA—(Disclosure & News Service – March 14, 2017) – PetroSun, Inc (OTC PINK: PSUD) announced today that the initial helium report covering 4,000 acres on the Concho Dome in the Holbrook Basin of Arizona has been received by Arizona Energy Partners LLC, an affiliate of PetroSun. The report was issued by MHA Petroleum Consultants located in Denver, Colorado.
The estimated contingent helium resources attributable to the Arizona Energy Partners interest in the Coconino sandstone formation of the Concho Dome is 2.29 billion cubic feet. Contingent resources are those quantities that are considered potentially recoverable from known accumulations. The Coconino Sandstone gas sample taken in December 2016 measured 7.05% helium concentration from analysis provided by Wyoming Analytical Laboratories.
Although the MHA helium report only attributed helium resources to the Coconino Sandstone formation, there are four other zones of interest that have tested high helium concentrations in the NZOG 17-1 wellbore on the Concho Dome. The helium analysis performed by Wyoming Analytical Laboratories in 2014 demonstrated concentrations of 4.8%, 9.0% and 9.3% respectively from three separate limestone /dolomite zones. A gas sample from the NZOG 17-1 in a lower Permian dolomite tested 8.02% helium and 91.87% nitrogen in 2005.
Maturation of contingent helium resources to helium reserves requires demonstration of commerciality thru the drilling of additional wells on the Concho Dome and other prospective structures. Arizona Energy Partners has staked and completed Archaeological Surveys on three Arizona State Land Department drill sites and is in the process of staking three additional private land drill sites. The development well program should commence during the month of April 2017.
Arizona Energy Partners holds Oil, Gas and Helium leases in Apache, Navajo and Coconino counties containing 218,066.58 net acres.
PetroSun, Inc. 480-425-4290